How To Pick The Right Location For Your New Home.

The decision to buy a house in a certain area can be driven in two ways: either there is a lovely area that you have always admired (or lived in, or had friends or relative who lived in it), or you decide to buy a home and formulate a list of criteria that your new home town has to meet.

In the first case, it is usually an easier choice when you decide to shop for a home, since you already know the character of the area, the school system, the crime statistics, the time of your daily commute, the taxes and local features such as entertainment, restaurants and recreation.

But if you don\’t have such a criteria, and just want to buy because you need a new house, this choice will be more difficult.

A lot of people limit their search to within a given commuting distance of their jobs. If you are retired, this will not be an issue. Just remember that home prices are typically higher in areas that have a vibrant job market, such as near a large city.

The next thing most people want to look at is the quality of the school system. For parents, this is a very important issue, but even for those who don\’t have children, it should be something to consider since the quality of the school system has big influence on the value of the houses in the area.

Cost is the next important criteria, and this is where the balancing act comes into play. The choice may be a tradeoff between a home that is closer to the job, but is more expensive. Settling for a smaller home in a closer area may allow you to keep the commute to a minimum.

In addition the outright cost of the house, other costs may influence the decision. There is an argument for buying in an older area with few or poor schools, with the cost of private schools offset by the savings in initial price and taxes.

Taxes can make a major difference in the ultimate cost of your house. Make sure you don\’t just learn the current rates, but try to project how high they will go. If the town has not done an assessment in a while, you may be in store for an adjustment. Find out if the owner has made substantial improvements (new bathrooms or kitchens, pool or fireplace) since the last assessment, as this will really add to the new tax bill.

Note how quickly the town is growing, and if the present infrastructure can support that growth; if it can\’t, you will be paying for it as a future homeowner. If a new school is in the town\’s future, you can surely count on higher taxes. Does this particular town have a reputation for frequent increases in the tax rate?

Gather all the facts about your prospective new town and then begin shopping!

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